What is the best option when buying a automobile. I have cash so don't need a financing arrangement
1. Buy a new automobile outright with cash and trade it in every year?
2. Buy a second hand automobile?
3. Put a large deposit down on a automobile and get into a financing arrangement on a new automobile?
Filed under finance - Asked by Lee Russell (Dublin) - Sat, 17 Mar 2018 10:50
Bearing in mind that I’m not an accountant (not even close and, if you have an accountant, I would direct this question to them too...), it seems to me that, as a automobile is a depreciating asset, it’s daft to be paying interest to fund that depreciation so let’s park the idea of paying a big deposit and going for finance.